ACC 290 Financial Statements Paper

Financial Statements

ACC/290

Financial Statements

To understand the financial gains and needs of a company one must first comprehend the purpose of the four basic financial statements, how they are used by its employees and the valuable information they provide for its investors. The four basic financial statements are listed as income statements, retained earnings statements, balance sheets, and statements of cash flows. All four of these reports allow both their internal and external users to determine a wealth of information. The data collected from these reports can range from a corporation's predicted future earnings to determining whether or not a company consists of sufficient funding to carry out its planned business operations. Breaking down...